Tanzania
Corporate Guide

Is there a requirement to have a local director in Tanzania?

There are generally no requirements to have a local director in a company, however, there are specific sectors which require local directors to be part of a company’s board. These include:

• Banking – Requires that a board of a banking institution be made up of at least two Tanzanian citizens.
• Microfinance – Requires that a board of a microfinance company be made up of at least two Tanzanian citizens.
• Insurance – Requires one-third of the board of a company undertaking insurance business to be citizens of Tanzania.
• Mining – Requires all directors to be Tanzanian citizens for it to be issued with a primary mining licence. Furthermore, the Government will have the right to appoint two suitably qualified individuals as independent members to the board of directors of the company holding the mining licence or special mining licence.